Somewhat Positive Media Coverage Somewhat Unlikely to Impact Avnet (AVT) Stock Price
News articles about Avnet (NYSE:AVT) have trended somewhat positive on Wednesday, according to Accern Sentiment. The research group rates the sentiment of media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Avnet earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned media coverage about the technology company an impact score of 46.8022766579652 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
- Brokerages Expect Avnet, Inc. (AVT) Will Post Quarterly Sales of $4.43 Billion (americanbankingnews.com)
- Brokerages Expect Avnet, Inc. (AVT) Will Post Earnings of $0.72 Per Share (americanbankingnews.com)
- Avnet (AVT) Initiates Stock Buyback Plan (americanbankingnews.com)
- 6 ways AI is used by Phoenix businesses (bizjournals.com)
- How Did Avnet Inc’s (AVT) 5.06% ROE Fare Against The Industry? (finance.yahoo.com)
Shares of Avnet (AVT) opened at $38.84 on Wednesday. The firm has a market capitalization of $4,741.56, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.08. The company has a quick ratio of 1.63, a current ratio of 2.78 and a debt-to-equity ratio of 0.29. Avnet has a 1-year low of $35.67 and a 1-year high of $51.50.
Avnet (NYSE:AVT) last issued its earnings results on Thursday, October 26th. The technology company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.05. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.34 billion. Avnet had a return on equity of 8.20% and a net margin of 2.86%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. equities analysts anticipate that Avnet will post 3.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, December 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.85%. Avnet’s payout ratio is currently 17.96%.
Avnet announced that its Board of Directors has authorized a share buyback program on Friday, November 10th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
A number of analysts have recently commented on the company. raised Avnet from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. raised Avnet from a “c” rating to a “b-” rating in a research note on Friday, November 10th. lowered Avnet from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. lifted their price objective on Avnet from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $39.00 price objective (down from $40.00) on shares of Avnet in a research note on Thursday, August 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Avnet currently has an average rating of “Hold” and a consensus price target of $40.29.
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In other Avnet news, Director J Veronica Biggins sold 10,600 shares of Avnet stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $37.10, for a total value of $393,260.00. Following the completion of the sale, the director now directly owns 12,191 shares in the company, valued at $452,286.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.65% of the company’s stock.
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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